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Microsoft fusing ChatGPT-like technology into search engine Bing


Microsoft is fusing ChatGPT-like technology into its search engine Bing, transforming an internet service that now trails far behind Google into a new way of communicating with artificial intelligence.

The revamping of Microsoft’s second-place search engine could give the software giant a head start against other tech companies in capitalizing on the worldwide excitement surrounding ChatGPT, a tool that’s awakened millions of people to the possibilities of the latest AI technology.

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Along with adding it to Bing, Microsoft is also integrating the chatbot technology into its Edge browser. Microsoft announced the new technology at an event Tuesday at its headquarters in Redmond, Washington.

“Think of it as faster, more accurate, more powerful” than ChatGPT, built with technology from ChatGPT-maker OpenAI but tuned for search queries, said Yusuf Mehdi, a Microsoft executive who leads its consumer division, in an interview.

A public preview of the new Bing launched Tuesday for desktop users who sign up for it, but Mehdi said the technology will scale to millions of users in coming weeks and will eventually come to the smartphone apps for Bing and Edge. For now, everyone can try a limited number of queries, he said.

The strengthening partnership with OpenAI has been years in the making, starting with a $1 billion investment from Microsoft in 2019 that led to the development of a powerful supercomputer specifically built to train the San Francisco startup’s AI models.

While it’s not always factual or logical, ChatGPT’s mastery of language and grammar comes from having ingested a huge trove of digitized books, Wikipedia entries, instruction manuals, newspapers and other online writings.

Microsoft Corp. CEO Satya Nadella said Tuesday that new AI advances are “going to reshape every software category we know,” including search, much like earlier innovations in personal computers and cloud computing. He said it is important to develop AI “with human preferences and societal norms and you’re not going to do that in a lab. You have to do that out in the world.”

The shift to making search engines more conversational — able to confidently answer questions rather than offering links to other websites — could change the advertising-fueled search business, but also poses risks if the AI systems don’t get their facts right. Their opaqueness also makes it hard to source back to the original human-made images and texts they’ve effectively memorized, though the new Bing includes annotations that reference the source data.

“Bing is powered by AI, so surprises and mistakes are possible,” is a message that appears at the bottom of the preview version of Bing’s new homepage. “Make sure to check the facts.”

As an example of how it works, Mehdi asked the new Bing to compare the most influential Mexican painters and it provided typical search results, but also, on the right side of the page, compiled a fact box summarizing details about Diego Rivera, Frida Kahlo and Jose Clemente Orozco. In another example, he quizzed it on 1990s-era rap, showing its ability to distinguish between the song “Jump” by Kris Kross and “Jump Around” by House of Pain. And he used it to show how it could plan a vacation or help with shopping.

Gartner analyst Jason Wong said new technological advancements will mitigate what led to Microsoft’s disastrous 2016 launch of the experimental chatbot Tay, which users trained to spout racist and sexist remarks. But Wong said “reputational risks will still be at the forefront” for Microsoft if Bing produces answers with low accuracy or so-called AI “hallucinations” that mix and conflate data.

Google has been cautious about such moves. But in response to pressure over ChatGPT’s popularity, Google CEO Sundar Pichai on Monday announced a new conversational service named Bard that will be available exclusively to a group of “trusted testers” before being widely released later this year.

Wong said Google was caught off-guard with the success of ChatGPT but still has the advantage over Microsoft in consumer-facing technology, while Microsoft has the edge in selling its products to businesses.

Chinese tech giant Baidu also this week announced a similar search chatbot coming later this year, according to Chinese media. Other tech rivals such as Facebook parent

Meta and Amazon have been researching similar technology, but Microsoft’s latest moves aim to position it at the center of the ChatGPT zeitgeist.

Microsoft disclosed in January that it was pouring billions more dollars into OpenAI as it looks to fuse the technology behind ChatGPT, the image-generator DALL-E and other OpenAI innovations into an array of Microsoft products tied to its cloud computing platform and its Office suite of workplace products like email and spreadsheets.

The most surprising might be the integration with Bing, which is the second-place search engine in many markets but has never come close to challenging Google’s dominant position.

Bing launched in 2009 as a rebranding of Microsoft’s earlier search engines and was run for a time by Nadella, years before he took over as CEO.

Its significance was boosted when Yahoo and Microsoft signed a deal for Bing to power Yahoo’s search engine, giving Microsoft access to Yahoo’s greater search share.

Similar deals infused Bing into the search features for devices made by other companies, though users wouldn’t necessarily know that Microsoft was powering their searches.

By making it a destination for ChatGPT-like conversations, Microsoft could invite more users to give Bing a try, though the new version so far is limited to desktops and doesn’t yet have an interface for smartphones — where most people now access the internet.

On the surface, at least, a Bing integration seems far different from what OpenAI has in mind for its technology. Appearing at Microsoft’s event, OpenAI CEO Sam Altman said the “the new Bing experience looks fantastic” and is based in part on learnings from its GPT line of large language models.

He said a key reason for his startup’s Microsoft partnership is to help get OpenAI technology “into the hands of millions of people.”

OpenAI has long voiced an ambitious vision for safely guiding what’s known as AGI, or artificial general intelligence, a not-yet-realized concept that harkens back to ideas from science fiction about human-like machines.

OpenAI’s website describes AGI as “highly autonomous systems that outperform humans at most economically valuable work.”

OpenAI started out as a nonprofit research laboratory when it launched in December 2015 with backing from Tesla CEO Elon Musk and others. Its stated aims were to “advance digital intelligence in the way that is most likely to benefit humanity as a whole, unconstrained by a need to generate financial return.”

That changed in 2018 when it incorporated a for-profit business Open AI LP, and shifted nearly all its staff into the business, not long after releasing its first generation of the GPT model for generating human-like paragraphs of readable text.

OpenAI’s other products include the image-generator DALL-E, first released in 2021, the computer programming assistant Codex and the speech recognition tool Whisper.

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Abu Dhabi Overtakes Oslo for Sovereign Wealth Fund Capital in Global SWF’s First City Ranking

Today, industry specialist Global SWF published a special report announcing a new global ranking of cities according to the capital managed by their Sovereign Wealth Funds (SWFs). The findings show that Abu Dhabi is the leading city that manages the most SWF capital globally, thanks to the US$ 1.7 trillion in assets managed by its various SWFs headquartered in the capital of the UAE. These include the Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company (MIC), Abu Dhabi Developmental
Holding Company (ADQ), and the Emirates Investment Authority (EIA). Abu Dhabi now ranks slightly above Oslo, home to the world’s largest SWF, the Government Pension Fund (GPF), which manages over US$ 1.6 trillion in assets. Abu Dhabi and Oslo are followed by Beijing (headquarters of the China Investment Corporation), Singapore (with GIC Private and Temasek Holdings), Riyadh (home to the
Public Investment Fund), and Hong Kong (where China’s second SWF, SAFE
Investment Corporation, operates from). Together, these six cities represent two thirds
of the capital managed by SWFs globally, i.e., US$ 12.5 trillion as of October 1, 2024.
For the past few decades, Abu Dhabi has grown an impressive portfolio of institutional
investors, which are among the world’s largest and most active dealmakers. In addition
to its SWFs, the emirate is home to several other asset owners, including central banks,
pension funds, and family offices linked to member of the Royal Family. Altogether, Abu
Dhabi’s public capital is estimated at US$ 2.3 trillion and is projected to reach US$ 3.4
trillion by 2030, according to Global SWF estimates.
Abu Dhabi, often referred to as the “Capital of Capital,” also leads when it comes to
human capital i.e., the number of personnel employed by SWFs of that jurisdiction, with
3,107 staff working for funds based in the city.
Diego López, Founder and Managing Director of Global SWF, said: “The world ranking
confirms the concentration of Sovereign Wealth Funds in a select number of cities,
underscoring the significance of these financial hubs on the global stage. This report
offers valuable insights into the landscape of SWF-managed capital and shows how it is
shifting and expanding in certain cities in the world.”

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AM Best Briefing in Dubai to Explore State of MENA Insurance Markets; Panel to Feature CEOs From Leading UAE Insurance Companies

AM Best will host a briefing focused on the insurance markets of the Middle East and North Africa (MENA) on 20 November 2024, at Kempinski Central Avenue in Dubai.
At this annual regional market event, senior AM Best analysts and leading executives
from the (re)insurance industry will discuss recent developments in the MENA region’s
markets and anticipate their implications in the short-to-medium term. Included in the
programme will be a panel of chief executive officers at key insurance companies in the
United Arab Emirates: Abdellatif Abuqurah of Dubai Insurance; Jason Light of Emirates
Insurance; Charalampos Mylonas (Haris) of Abu Dhabi National Insurance Company
(ADNIC); and Dr. Ali Abdul Zahra of National General Insurance (NGI).
Shivash Bhagaloo, managing partner of Lux Actuaries & Consultants, will his present
his observations in an additional session regarding implementation of IFRS 17 in the
region. The event also will highlight the state of the global and MENA region
reinsurance sectors, as well as a talk on insurance ramifications stemming from the
major United Arab Emirates floods of April 2024. The programme will be followed by a
networking lunch.
Registration for the market briefing, which will take place in the Diamond Ballroom at the
Kempinski hotel, begins at 9:00 a.m. GST with introductory comments at 9:30 a.m.
Please visit www.ambest.com/conference/IMBMENA2024 for more information or to
register.
AM Best is a global credit rating agency, news publisher and data analytics
provider specialising in the insurance industry. Headquartered in the United
States, the company does business in over 100 countries with regional offices in
London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.

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Future of Automotive Mobility 2024: UAE Leads the Charge in Embracing Digital Car Purchases and Alternative Drivetrains

-UAE scores show highest percentage among the region in willingness to purchase a car
completely online
– Openness to fully autonomous cars has grown to 60% vs previous 32%.
– More than half of UAE respondents in the survey intend to move to hybrid cars during
next car purchase, while less than 15% intend to move to fully electric car.
– UAE sees strong use of new mobility services such as ride-hailing (Uber, Careem, Hala
Taxi)
– The perceived future importance of having a car is not only increasing in UAE but is
higher than any other major region globally, even China

Arthur D. Little (ADL) has released the fourth edition of its influential Future of Automotive Mobility (FOAM) report, presenting a detailed analysis of current and future trends in the automotive industry. This year’s study, with insights from over 16,000 respondents across 25 countries, includes a comprehensive focus on the United Arab Emirates (UAE). The report examines car ownership, electric vehicles,
autonomous driving, and new mobility services within the UAE.

“The UAE is at the forefront of automotive innovation and consumer readiness for new mobility
solutions,” said Alan Martinovich, Partner and Head of Automotive Practice in the Middle East
and India at Arthur D. Little. “Our findings highlight the UAE’s significant interest in
transitioning to electric vehicles, favorable attitudes towards autonomous driving technologies,
and a strong inclination towards digital transactions in car purchases. These insights are critical
for automotive manufacturers and policymakers navigating the evolving landscape of the UAE
automotive market.”
Key Findings for the UAE:
1. Car Ownership:
o Over half of UAE respondents perceive that the importance of owning a car is
increasing, with the study showing the increase higher than any other major
region, including China.
o Approximately 80% of UAE respondents expressed interest in buying new (as
opposed to used) cars, above Europe and the USA which have mature used
vehicle markets

2. Shift to Electric and Hybrid Vehicles:
o While a high number of UAE respondents currently own internal combustion
engine (ICE) vehicles, more than half intend that their next vehicle have an
alternative powertrain, with significant interest in electric and plug-in hybrid
(PHEV) options. Less than 15% plan to opt for pure battery electric vehicles
(BEVs).

3. Emerging Mobility Trends:

o Ride-hailing services are the most popular new mobility option among UAE
residents, with higher usage rates than traditional car sharing and ride sharing.
The study indicates a strong openness to switching to alternative transport modes
given the quality and service levels available today.

4. Autonomous Vehicles:
o UAE consumers are among the most open globally to adopting autonomous
vehicles, with a significant increase in favorable attitudes from 32% in previous
years to 60% this year versus approximately 30% in mature markets. Safety
concerns, both human and machine-related, remain the primary obstacles to
broader adoption.

5. Car Purchasing Behavior and Sustainability:
o The internet has become a dominant channel for UAE residents throughout the car
buying process, from finding the right vehicle to arranging test drives and closing
deals. UAE car buyers visit dealerships an average of 3.9 times before making a
purchase, higher than any other region in the world, emphasizing the need for
efficient integration of online and offline experiences.
o Upwards of 53% of respondents from the region would prefer to ‘close the deal’
and complete the purchase of their car online, which is the highest for any region
in the world.
o Sustainability is a key factor cited by UAE consumers as influencing car choice.
The UAE scored among the top half of regions, highlighting the importance of
environmental considerations.

“Our study confirms the promising market opportunities for car manufacturers (OEMs) and
distributors in the UAE” commented Philipp Seidel, Principal at Arthur D. Little and co-Author
of the Global Study. “Consumers in the Emirates show a great and increasing appetite for cars
while being among the most demanding globally when it comes to latest vehicle technologies
and a seamless purchase and service experience.”
The comprehensive report, “The Future of Automotive Mobility 2024” by Richard Parkin and
Philipp Seidel, delves into global automotive trends and their impact on various regions,
including the UAE. This study is an invaluable tool for industry stakeholders seeking to navigate
and leverage the dynamic changes driving the future of mobility.

 

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